Two Seas Capital Portfolio holdings
Two Seas Capital is an investment manager that invests in situations driven by a legal or regulatory catalyst, such as bankruptcies, debt restructurings, broken mergers and patent disputes. The firm began operations in February 2020, and Sina Toussi is its principal owner. Its flagship fund, Two Seas Global Fund, launched in the first quarter of 2021. Investment decisions combine fundamental research with in-depth legal analysis, and the firm regularly consults attorneys and litigation consultants. It can invest anywhere in a company's capital structure, from stocks to debt, and manages funds for sophisticated and institutional investors.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Immunovant
IMVT
|
+$57.7M |
| 2 |
First Solar
FSLR
|
+$52.9M |
| 3 |
Abivax
ABVX
|
+$52.1M |
| 4 |
Solaris Energy Infrastructure
SEI
|
+$47.9M |
| 5 |
Core Scientific
CORZ
|
+$47.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Calumet Specialty Products
CLMT
|
+$63.3M |
| 2 |
Arbutus Biopharma
ABUS
|
+$52.8M |
| 3 |
Roivant Sciences
ROIV
|
+$41.7M |
| 4 |
Darling Ingredients
DAR
|
+$28.2M |
| 5 |
Bitdeer Technologies
BTDR
|
+$23.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 71.11% |
| 2 | Healthcare | 12.03% |
| 3 | Technology | 5.44% |
| 4 | Materials | 3.23% |
| 5 | Utilities | 2.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
51
Darling Ingredients
DAR
$8.58B
| – | – |
-516,527
| Closed | -$28.2M | – |
|
|
52
CALL
First Solar
FSLR
$18.5B
| – | – |
-471,500
| Closed | -$111M | – |
|
53
Iris Energy
IREN
$8.27B
| – | – |
-140,000
| Closed | -$5.75M | – |
|
54
Sonos
SONO
$2.14B
| – | – |
-710,612
| Closed | -$9.6M | – |
|
55
CoreWeave
CRWV
$31.2B
| – | – |
-153,139
| Closed | -$15.2M | – |
|
Similar funds
Two Seas Capital's Q3 2026 Portfolio in Review
As of Q3 2026, Two Seas Capital held 55 positions worth $8.68B, up 72% from $5.05B the previous quarter. Its ten largest holdings account for 83% of the portfolio.
Two Seas Capital's Q3 2026 filing shows 8 new, 21 increased, 9 reduced and 8 closed positions. Its largest new stake was Solaris Energy Infrastructure: 786,838 shares worth $56M. The largest sale was Calumet Specialty Products, an estimated $63.3M.
By sector, the portfolio is most concentrated in Miscellaneous at 71% of assets, up from 48% a quarter earlier, followed by Healthcare and Technology.
- Two Seas Capital's largest Q3 2026 buy was Solaris Energy Infrastructure: 786,838 shares worth $56M.
- Two Seas Capital added most to Immunovant in Q3 2026, an estimated $57.7M increase.
- Two Seas Capital's biggest Q3 2026 reduction was Calumet Specialty Products, cutting an estimated $63.3M.
- Two Seas Capital fully exited Darling Ingredients in Q3 2026, selling an estimated $28.2M.
- Two Seas Capital's ten largest holdings make up 83% of its $8.68B portfolio in Q3 2026.
- Two Seas Capital opened 8 new positions and closed 8 in Q3 2026.
- Two Seas Capital's portfolio value rose 72% quarter-over-quarter to $8.68B.
Based on Two Seas Capital's 13F filing for Q3 2026, filed 6 Oct 2026.